Monday, 15 July 2024

Georgian PM Credits Economic Growth for Lari Stabilization

  • Georgian PM cites rapid economic growth and effective management for stabilizing the lari.
  • Commends National Bank and Governor Natia Turnava for their role in the process.
  • Highlights promising economic indicators and a successful tourist season.

Georgian Prime Minister Irakli Kobakhidze praised the country’s rapid economic growth and effective management policies for stabilizing the national currency, the lari, after a brief period of fluctuation.

Kobakhidze also highlighted the government‘s focus on maintaining economic progress and stability, noting the opposition’s previous attempts to influence the central bank.

Economic Policies Boost Lari Stability and Growth in Georgia

Prime Minister Irakli Kobakhidze attributed the stabilization of Georgia’s national currency, the lari, to the country’s swift economic growth and sound management strategies. He praised the National Bank, led by Governor Natia Turnava, for effectively handling a short-term currency fluctuation and restoring the lari’s value.

Kobakhidze criticized the political opposition for their previous attempts to interfere with the central bank, highlighting the risks such actions could pose to economic stability. He emphasized the government’s commitment to safeguarding economic progress and stability, ensuring the central bank remains independent and effective.

The Prime Minister noted the encouraging economic trends observed in the first two quarters of the year, including high growth rates and a successful tourist season. These positive developments have resulted in a significant increase in the state budget, further supporting Georgia’s economic goals.

Looking ahead, Kobakhidze expressed confidence in maintaining these positive trends and achieving even better economic indicators this year compared to the previous year. He stressed the importance of continuing effective management policies to sustain the country’s economic momentum.

The Georgian government’s effective economic management and robust growth strategies have not only stabilized the national currency but also set a strong foundation for continued economic success.

“We had a short-term fluctuation, on which the [political] opposition had high hopes, however, thanks to the rapid economic growth and effective management policy, the exchange rate of the lari returned to its original value very soon.” – Georgian PM Irakli Kobakhidze

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